Community West Bancshares to Issue Quarterly Dividend of $0.12 (NASDAQ:CWBC)

Community West Bancshares (NASDAQ:CWBC) announced a quarterly dividend on Thursday, October 24th, Zacks reports. Shareholders of record on Friday, November 8th will be paid a dividend of 0.12 per share by the financial services provider on Friday, November 22nd. This represents a $0.48 dividend on an annualized basis and a dividend yield of 2.39%. The ex-dividend date of this dividend is Friday, November 8th.

Community West Bancshares has raised its dividend by an average of 31.2% per year over the last three years. Community West Bancshares has a dividend payout ratio of 23.4% meaning its dividend is sufficiently covered by earnings. Equities research analysts expect Community West Bancshares to earn $2.08 per share next year, which means the company should continue to be able to cover its $0.48 annual dividend with an expected future payout ratio of 23.1%.

Community West Bancshares Trading Up 7.2 %

NASDAQ:CWBC opened at $20.10 on Thursday. The company has a debt-to-equity ratio of 0.20, a quick ratio of 0.80 and a current ratio of 0.80. Community West Bancshares has a 1 year low of $15.50 and a 1 year high of $24.47. The stock has a market cap of $380.69 million, a P/E ratio of 30.46 and a beta of 0.87. The stock has a 50-day simple moving average of $19.26 and a 200-day simple moving average of $18.63.

Insider Buying and Selling at Community West Bancshares

In related news, Director Robert Bartlein purchased 2,000 shares of the firm’s stock in a transaction that occurred on Friday, November 1st. The stock was purchased at an average cost of $18.75 per share, with a total value of $37,500.00. Following the completion of the acquisition, the director now directly owns 433,876 shares in the company, valued at $8,135,175. This trade represents a 0.00 % increase in their ownership of the stock. The acquisition was disclosed in a filing with the SEC, which is accessible through this link. In the last ninety days, insiders have purchased 2,550 shares of company stock worth $46,097. 11.15% of the stock is currently owned by insiders.

Analysts Set New Price Targets

Several brokerages have issued reports on CWBC. Piper Sandler raised their price objective on Community West Bancshares from $22.00 to $24.00 and gave the stock an “overweight” rating in a report on Wednesday, July 24th. StockNews.com lowered Community West Bancshares from a “hold” rating to a “sell” rating in a research report on Thursday, July 25th. One analyst has rated the stock with a sell rating, one has issued a hold rating and two have given a buy rating to the company’s stock. According to MarketBeat.com, Community West Bancshares has an average rating of “Hold” and a consensus price target of $20.33.

Community West Bancshares Company Profile

Community West Bancshares operates as the bank holding company for Community West Bank, N.A. that provides various financial products and services in California. The company offers deposit products, such as checking accounts, savings accounts, money market accounts, and fixed rate and fixed maturity certificates of deposits; and cash management products.